| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP885 |
| DP885 Fiscal Policy and Economic Growth: An Empirical Investigation | |
| Sérgio Rebelo; William Easterly | |
| 发表日期 | 1994-01-31 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | This paper argues that the application of the `2% rule' to the case of Eastern Germany, which implies convergence in three decades or more, is overly pessimistic. First, it ignores discrete improvements in initial conditions related to the transition, which have been significant to date. Because labour productivity in manufacturing exhibits wide sectoral dispersion, structural change is likely to increase aggregate productivity further. Second, convergence is also driven by physical and human capital mobility, which in contrast to labour mobility appears to be high in Eastern Germany. Finally, an unusually high rate of physical investment in Eastern Germany will accelerate convergence. |
| 主题 | International Macroeconomics |
| 关键词 | Convergence Eastern germany Factor mobility German unification Regional integration |
| URL | https://cepr.org/publications/dp885 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530031 |
| 推荐引用方式 GB/T 7714 | Sérgio Rebelo,William Easterly. DP885 Fiscal Policy and Economic Growth: An Empirical Investigation. 1994. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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